The Blue House will hold an "emergency economic issues review meeting" at 2 p.m. on the 12th, chaired by Deputy Minister Kim Yong-beom, the policy chief. As the United States and Iran conduct cease-fire talks, domestic and external economic uncertainty could grow, prompting discussions on response measures.
At the meeting, from the Blue House, Kim and the senior secretary for the economy, the fiscal planning advisor, the secretary for growth economy, and the secretary for economic security will attend. From government ministries, vice ministers from the Ministry of Finance and Economy, the Ministry of Foreign Affairs, the Ministry of the Interior and Safety, the Ministry of Trade, Industry and Resources, the Ministry of Climate, Energy and Environment, the Ministry of Land, Infrastructure and Transport, the Ministry of Oceans and Fisheries, the Ministry of Planning and Budget, and the vice chair of the Financial Services Commission will be present.
The meeting is expected to share updates on the Middle East situation and discuss response options. Earlier, the United States and Iran held a 14-hour marathon negotiation on a cease-fire from the 11th (local time) to the early morning of the 12th. They were said to have set a plan to resume talks that day.
The Blue House and the government also plan to discuss swift execution of the supplementary budget. The extra budget totals 2.62 trillion won and includes a program to provide high oil price damage support payments of 100,000–600,000 won per person to the bottom 70% by income. The supplementary budget passed the National Assembly's plenary session on the 10th and was approved at a Cabinet meeting on the 11th.